Friends and alumni who wish to leave a legacy, ensuring that the School will be as strong tomorrow as it is today, may choose to include Saint James in their estate plan. A planned giving strategy allows you to put your assets to work for any part of the School you choose—while you, your family, and Saint James are able to share in the benefits. A planned gift integrates personal, financial and estate-planning concepts, and is often transmitted through a legal document, such as a will or trust.
The Fountain Rock Society recognizes individuals who have designated Saint James School as a beneficiary in their will and/or estate plan. Members demonstrate remarkable foresight and generosity in ensuring their legacy through a planned gift to Saint James. There are many kinds of planned gift options, including: simple bequests (the most common type of planned gifts) in a will or trust, or within an estate plan, charitable gift annuities, charitable remainder trusts, charitable lead trusts, and non-cash assets, such as real estate or securities.
Planned gifts require more thought and planning than other types of charitable contributions. Below, are basic definitions of several types of planned gifts. Since tax laws may vary by state and are subject to change, we recommend that you discuss the best strategy with your family and financial advisor.
- Gifts of Retirement Funds
- Charitable Gift Annuity
- Charitable Remainder Trusts
- Charitable Lead Trust
- Life Insurance
- Personal Property
A Charitable Gift Annuity is a simple contract between you and Saint James School. In exchange for your irrevocable gift of cash, securities, or other assets, Saint James agrees to pay one or two annuitants of your choice a fixed sum each year for life. This may be set up to provide guaranteed income for life; and, in many cases, capital gains taxes on appreciated assets can be spread over the projected life of the contract.
Charitable remainder trusts are individual trusts that may be funded with cash, tax-exempt assets, or appreciated property. They are managed by Saint James and its investment representatives. The trust will pay income to individuals you name for a term of years. Saint James will receive the remaining balance at the end of the trust. This may be set up to provide annual income for you and/or your beneficiaries and an immediate charitable deduction.
If you have any questions, or would like to discuss the various types of planned gifts, please contact the Office of Development and Alumni Relations.